There are many reasons why today’s millennial generation is difficult to have their own home. One of the biggest reasons is that they have only a modest salary, while land prices will always increase. This is why millennials who wish to own a house can join using NJ Home Buyer Rebate to own their own home. Then, what about other reasons for the millennial generation who have difficulty owning a home?
Several problems come from the millennial itself.
1. High Millennial Consumption Expenditures
Millennials only hope to have their dwelling. But, on the other hand, they also focus on daily consumption rather than buying a home. Yeah, sometimes a lot of millennials don’t have wide knowledge about buying house tips.
2. Price Increase Vs Increase in Millennial Wages
In this case, millennials should anticipate land prices to rise every year. If price increases and wages are out of balance, that is not a problem. Meanwhile, for millennials, these two things are often the opposite.
3. Interest Rates
The next problem is the house purchase interest rates are still not following the characteristics of young people.
4. Millennials of the Creative Worker
Low homeownership at a young age is influenced by work factors. At present, many millennials prefer to have their own business which does not have a salary slip.
Millennials need to have a mindset that the home is a basic need. Darisini millennial will put the brakes on a few unneeded expenses and set aside for future savings. Remember, homes are not only per cluster category. Millennials can buy in other forms such as apartments or flats.
6. Want an Affordable House
Millennials want a house connected to TOD (Transit Oriented Development) but the price is still affordable. Indeed there are still the most affordable areas in big cities, but the risk is that your home will be far from the office location.